Mag/498 Final Exam Essay

1317 words - 6 pages

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1) In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?

A. Clearer sense of vision for the firm

B. Higher levels of employee motivation

C. Higher levels of job satisfaction

D. Improved productivity

E. Lower employee turnover

2) Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is

A. externally-oriented planning

B. basic financial planning

C. internally-oriented planning

D. forecast-based planning

E. strategic management

3) Strategic management is that set of managerial decisions and actions that determine the long-run ...view middle of the document...

Used as a tool to ensure a corporation's long-term health

B. Used to monitor, evaluate, and disseminate information from the external environment to key people within the corporation

C. Used to identify opportunities and threats

D. It is a tool that corporations use to avoid strategic surprise

E. Used to identify strengths and weaknesses

8) According to Porter, the corporation is most concerned with

A. the intensity of competition within its industry

B. the aggregate level of demand for a product line

C. a market's position on its life cycle

D. the amount of pressure from the societal environment

E. the level of government action in an industry

9) When a company determines a competency's competitive advantage, Barney refers to this issue as

A. value

B. rareness

C. imitability

D. organization

E. durability

10) An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is

A. P.E.T.

B. M.B.O.

C. S.W.O.T.

D. S.B.U.

E. R.O.I.

11) In the development of a SFAS matrix, the first step is to

A. enter the ratings of how the company's management is responding to each of the strategic factors

B. calculate the weighted scores

C. list the most important EFAS and IFAS items

D. indicate short-term for the duration

E. enter the weights for all of the internal factors

12) The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a (an)

A. IFAS Table

B. EFAS Table

C. SFAS Table

D. TOWS Matrix

E. Issues Priority Matrix

13) Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units?

A. Corporate

B. Functional

C. Divisional

D. Organizational

E. Business

14) Continuous improvement is an operations concept developed in

A. the United States

B. Sweden

C. Japan

D. Germany

E. Canada

15) The process by which a firm approaches its cross-border activities and those of competitors, and plans to approach them in the future, is called

A. staging

B. international strategy

C. competitive strategy

D. cross-border configuration

16) What question must managers ask concerning the relationship between economic logic and international strategy?

A. Which geographic areas will we enter?

B. How does our international strategy contribute to the economic logic of our business and corporate strategies?

C. How does being international make our products more attractive to our customers?

D. Which international market-entry strategies will we use?

17) Which strategy is developed to pull together the...

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